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20110729
20110729
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WRC (NBC) 1
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NBC
Jul 29, 2011 11:00am EDT
money, there's a big trickle-down effect. it costs companies more, it costs individuals more. and that means people and company will have less money to hire, they'll have less money to spend. that's bad for the economy overall. >> not only does the federal government borrowing costs go up by over $100 billion, but the same thing with states, and it will go right downstream. >> reporter: so americans could also get local and state governments get their credit ratings downgraded as well. it looks like it's going to be another long -- >> elaine, thank you so much for that report. we're losing her audio there. we'll soon have a better idea of what the district plans to do if a debt deal is not reached. according to the "washington examine examiner", kwame brown asked the city's chief financial officer and members of mayor gray's administration to brief the council on the district's debt crisis contingency plan. that meeting will be held on monday. >>> a truck driver is facing charges today after police say he caused a major accident that snarled traffic on 95 in woodbridge. polic
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